Richard Baccari, Sr. the head of development company Churchill and Banks, is stepping down after forty years with the company. Churchill and Banks rose to prominence developing supermarkets across the state, as well as the Lincoln Mall, and T.F. Green Airport parking lot
Rhode Island Public Radio’s political analyst Scott MacKay said Baccari was the target of a federal investigation into bribery of three North Providence councilmen. The 71 year old Baccari was eventually found not guilty on corruption charges. “With his acquittal he probably will no longer be a target for these investigations. And he’s been one over the years, but he’s never been convicted.”
MacKay said while Baccari was well known as a businessman and philanthropist, he was also a controversial figure. “He, over the years, has had some very protracted and public battles with environmental groups over development. And, over the years, he’s always been sort of mentioned as someone that the feds were looking into at various levels,” said MacKay.
Baccari is turning the company over to his son, Richard Baccari Jr.
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